Chandan Taparia of MOFSL recommends buying these three stocks today

Wipro has broken out of a consolidation zone with a volume spike visible on the daily chart. Buying was visible across the IT Sector which may support the up move

Buy Wipro | CMP: Rs 589 | Stop Loss: Rs 575 |Target: Rs 620

 

The stock has broken out of a consolidation zone with a volume spike visible on the daily chart. Buying was visible across the IT Sector which may support the up move. The RSI indicator is positively placed which has bullish implications.    

 

Buy Granules | CMP: Rs 595 | Stop loss Rs 575 | Target: 635

 

The price has broken out of a double-bottom pattern with a large-bodied bullish candle which suggests a trend reversal. It has also bounced back up from its 200 DEMA. The MACD Indicator has given a bullish crossover confirming the upward momentum.  

 

Buy City Union Bank | CMP: Rs 179 | Stop loss: Rs 175 | Target: Rs 187

 

The stock has retested its 38 per cent Fib Retracement levels and turned up with a bullish marubozu candle on the daily scale. The Stochastic indicator has exited the oversold zone which suggests bullish sentiment.  

 

(Disclaimer: Chandan Taparia is head of derivatives & technicals at Wealth Management, Motilal Oswal Financial Services. Views expressed are this own.)